<ul><li>The IRS has finalized its Broker Rule, requiring all cryptocurrency exchanges to subject their users to Know-Your-Customer (KYC) measures.</li><li>The rule defines control over offered services and deems developers of user interfaces as Virtual Asset Service Providers, subject to anti-money laundering obligations.</li><li>The Blockchain Association has filed a lawsuit against the IRS and the Treasury Department, claiming the rule is unconstitutional.</li><li>Senator Ted Cruz introduced a joint resolution to disapprove of the IRS rule, which gained overwhelming support in the Senate.</li></ul>

The Current State Of The IRS Broker Rule

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